today, I introduce a bill to provide access to health insurance for individuals between the ages of 55-65. These individuals are too young for Medicare, not poor enough to qualify for Medicaid, and in many cases, are forced into early retirement or pushed out of their jobs in corporate downsizing. The ``Medicare Early Access Act'' is based on the President's three-part initiative announced last January. The bill is a targeted proposal to give older Americans under 65 new options to obtain health insurance coverage. Many of these Americans have worked hard all their lives, but, through no fault of their own, find themselves uninsured just as they are entering the years when the risk of serious illness is increasing. This legislation attempts to bridge the gap in coverage between years when persons are in the labor force and the age (65) when they become eligible for Medicare. The bill has three parts: (1) It enables persons between ages 62 and 64 to buy into Medicare by paying a full premium; (2) It provides displaced workers over age 55 access to Medicare by offering a similar Medicare buy-in option; and (3) It extends COBRA coverage to persons 55 and over whose employers withdraw retiree health benefits. The program is largely self-financing and is substantially paid for by premiums from the beneficiaries themselves.
Editor's note · Context
Introducing the Medicare Early Access Act to provide health insurance for individuals aged 55-65.
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